Bethany Beach Real Estate Blog

Found 48 blog entries about Bethany Beach Real Estate Blog.

After a late summer slow down, the Bethany-Fenwick market experienced a significant 52% rise in sales during October when compared to 2017. In Bethany Beach alone, 28 properties went under contract versus 17 last year.  October single family home sales matched 2017 while condo/townhome sales more than doubled (21 vs. 10). Buyers benefited from a nice jump in September inventory!

As the chart illustrates, year-to-date, the market is keeping pace with a strong 2017 and all factors point towards the continuation of this trend.

Bethany Beach Real Estate 2018 Fall Market Update

Over-all, we are optimistic about the market as we head into 2019 !  This Thanksgiving and always, we are thankful to you for your continued trust and confidence. We wish you and your loved ones a very joyful holiday season!

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After the strongest start to the year in more than a decade, real estate activity slowed early this summer and the trend carried through August. Sales last month of both single-family homes and condo/townhomes were down considerably compared to August of 2017. Inventory is now on the rise in several areas and we will be monitoring closely to see if this brings more buyers to the area this fall.

 Bethany Beach to Fenwick Island Real Estate Summer 2018 Market Update

On a personal note, September is always a special time for me. It was 29 years ago this month that I started a career in real estate at the beach. I cannot begin to express how fortunate I feel to have earned the trust of so many of you over the years and today, my group is stronger than ever. We continue to work with far more buyers and sellers than any

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Bethany Beach August 1, 2018 Market Update from Leslie Kopp

It is hard to believe that we are more than half of the way through the year and as the chart indicates, year-to-date real estate sales activity has been strong when compared to the same time period in 2017. Total sales, prices and the pace of sales are trending in a positive direction in Bethany.

It is important to note that while the year as a whole has been strong, most recently, real estate has slowed as sales were down in both June and July when compared to the same months in 2017. Additionally, inventory on the first beach block has been limited which is reflected in some softening of the $1 million+ market.  

It’s never too early to begin strategizing. If you are considering buying or selling in the future, please give us a call to discuss

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/Delaware Beach Property Values on the Rise

One year ago, we communicated to you that after nearly 5 years of price stability, we were beginning to see property values on the rise. As the graph illustrates, there is no question that prices continue to climb. The median sale price of single family homes and condo/townhomes sold through May of this year is up a significant 8% when compared to 2017. 

While values as a whole are still more than 20% lower than 2006 when prices peaked, the appreciation that the market has experienced over the last 12 months is significant! Please let us know if you are considering buying or selling at the beach.  We would love the opportunity to speak with you. 

Leslie  

 

*Data was derived from the Sussex County MLS. Includes new contracts on properties

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Bethany Beach Real Estate Statistics First Quarter 2018

While the winter weather was not ideal to encourage buyers to visit during the first quarter of 2018, the overall beach real estate market was strong. In fact, conditions are more favorable today than they have been in over a decade from North Bethany to Fenwick Island.

Total sales, prices and the pace of sales are all trending in a positive direction. For more than a year, we have been communicating to you that the combination of high buyer activity and shrinking inventory would lead to the rising prices that we are experiencing today. In fact, median sale prices are up between 3% and 6%, depending on the property type and location when compared to 2017.      

It’s never too early to begin strategizing! Please give us a call to discuss how to

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Bethany Beach Real Estate

Real Estate Bethany Beach March 2018 Stats

One year ago, we reported to you that January and February market activity was the strongest that we had experienced in more than a decade. The start to 2018 has been even more impressive. The number of properties that went under contract during the first two months in Bethany was up 22% year-over-year !

Sales volume in dollars is up by less because the majority of the increase is attributed to condo/townhome activity (34 vs 20 new contracts). Single family home sales (16 vs 21) softened some due to the continuation of limited inventory.        

If you are contemplating a sale or if you have considered making a move up, we strongly encourage you to take advantage of the current market conditions.
Please give us a

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bethany beach real estate absorption rates

 

We are often asked whether it is a buyer’s market or a seller’s market at the beach. Knowing the Months of Inventory available helps to determine the type of market. Absorption rates tell us how many months it will take to sell all existing homes for sale at the current pace of sales. Generally, 7 months of inventory is a neutral market, more is a buyer’s market, less is a seller’s market.

The areas of South Bethany (4 months) and Bethany Beach (6 months) are both a seller’s market for single family homes. North Bethany and Fenwick Island are technically in a buyer’s market with 12 months of inventory. However, several properties recently listed for sale went under contract within a few days and some homes received multiple offers very

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Bethany Beach 2017 Real Estate Market Report

After significant strengthening from 2015 to 2016, the Bethany Beach market held firm in 2017. Activity was on pace to end the year with even more impressive numbers, but the uncertainty of impending tax reform and limited inventory in many areas contributed to a temporary slow down late in the year.

We are pleased that the final tax bill is significantly better for homeowners than early versions. The continuation of low inventory in most areas at the beach is positive for property owners and makes the coming months an opportune times to list.   We are pleased to have participated in more Bethany Beach real estate transactions than any other agent or group in 2017 and we are overwhelmed with gratitude for your continued confidence in us.    

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Year-to-date, 2017 has been exceptional for property owners! As the snapshot below illustrates, the Bethany Beach and Fenwick Island market is trending in a favorable direction when compared to the first 10 months of 2016 for 5 major market indicators.

Bethany Beach Real Estate Sales Statistics November 2017


We did experience some slowdown in sales at the beach in late September that continued into October for both single family and condo/townhomes. Limited inventory is a big contributing factor. Additionally, the impending tax reform could have some buyers on pause until there is less uncertainty surrounding our future tax structure. We will know more in the coming months, but this is something to watch.

We would like to wish you and your loved ones a safe and joyful Thanksgiving!

Leslie Kopp

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Our favorite time of year is upon us! Warm ocean breezes and light traffic make for ideal Autumn conditions at the beach. We hope you are able to enjoy some quality time on the Delaware Coast in the coming weeks.

Early in 2017, we communicated to you that real estate sales were at levels we had not experienced in the last 10 years and all signs pointed to the continuation of a strengthening market. Now that the busy summer season has ended, we can report with confidence that this trend has endured.
Bethany Beach Real Estate Sales Up


In fact, there were year-over-year gains in new contracts for 11 of the last 12 months. This is the longest period of positive upward movement that we have experienced in more than a decade. In the Bethany-Fenwick area, 48 properties sold in the month of

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